Dallas Cowboys News & Rumors

FEBRUARY 8: Recent reporting has suggested that, whether he plays on the franchise tag or on a new, multiyear contract, Pickens will remain in Dallas for at least 2026. But it is still possible that 2025 may have been Pickens’ only season with the Cowboys.

While confirming that the club will slap Pickens with the franchise tag, Ian Rapoport of the NFL Network (video link) says the team could explore a tag-and-trade scenario. Such a move would obviously weaken the Cowboys’ WR corps but would represent a good value proposition considering they would likely recoup a better draft pick than the third-rounder they dealt to the Steelers to acquire Pickens last year. Plus, it would keep a second high-end receiver contract off the books and allow Dallas to reinvest elsewhere.

Like Parsons, Pickens is represented by agent David Mulugheta, whose exclusion from the Jones-Parsons negotiations was a contributing factor in the trade that sent the star pass rusher to the Packers. Rapoport and others have speculated that Mulugheta’s presence is a wrinkle that could complicate extension talks between Pickens and the Cowboys.

FEBRUARY 7: George Pickens‘ stellar showing in 2025 has no doubt provided a major boost to his free agent stock. A trip to the open market continues to look unlikely, however.

The Cowboys have a history of using the franchise tag, and applying it to Pickens has long loomed as a possibility for the 2026 offseason. Signs continue to point in the direction of the one-year tender being used in this case. ESPN’s Adam Schefter reports Dallas is indeed expected to tag Pickens.

Franchise tag values have not been finalized for 2026 at this point, but a relatively narrow range regarding next year’s salary cap recently emerged. The tag price for receivers is currently set to check in at nearly $29MM. That figure will be guaranteed if/when Pickens receives the tag. That would of course leave the door open to negotiations on a long-term deal.

Both sides in this case have been mentioned as willing to explore a deal lasting beyond 2026 based on the success of Pickens’ first Cowboys season. According to Nick Harris of the Fort Worth Star-Telegram, there is a “mutual interest” for an extension to be worked out. Harris notes Pickens’ issues with tardiness for team meetings – something which became a talking point during his three-year Steelers tenure – carried over to Dallas at times during the 2025 season. Owner Jerry Jones downplayed the matter during an interview with Harris, though, and attention will increasingly turn to the matter of contract talks.

It was confirmed earlier this week the Cowboys have yet to begin extension negotiations with Pickens’ camp. Dallas has a well-documented history under Jones when it comes to high-profile talks taking longer than many feel they should. The Micah Parsons episode of 2025 was an extreme example of how things can spiral over time when neither side budges during an extended period. In the case of Pickens, a decision on the franchise tag will need to made by March 3.

“I’m talking to George all the time by virtue of my excitement for him,” Jones said of the 24-year-old (via the Cowboys’ website). “He’s better than, as far as what he contributed to our team, showing the potential that he could contribute. I’m looking forward to getting things worked out so George can be a Cowboy a long time.”

The receiver market topped $40MM per season last year when Ja’Marr Chase signed his Bengals extension. He and Justin Jefferson comfortably lead the way in terms of guaranteed money at the position. Pickens is a candidate for a massive raise beginning in 2026 no matter what, but a long-term deal would ensure far greater earnings than the $8.78MM the former second-round pick collected on his rookie pact. A new contract averaging at least $30MM annually was the aim for Pickens and his camp when he arrived in Dallas and elected not to pursue an extension right away.

That decision is set to pay off. Pickens enjoyed a career year in 2025, securing a top-eight finish leaguewide in receptions (93), yards (1,429) and touchdowns (nine). Based on his age and instant chemistry with quarterback Dak Prescott, Pickens profiles as a logical candidate for a major investment. On the other hand, Dallas already has one monster WR pact on the books in the form of CeeDee Lamb. He and Prescott are set to represent substantial cap charges on offense for years to come.

The Cowboys have a number of other key decisions to make with their other pending free agents (such as running back Javonte Williams, with whom the team has been in contact). Among the easiest ones Dallas faces, however, is using the tag to keep Pickens from departing. Players who receive the tender have until July 15 to agree to a long-term contract and avoid playing out the season on the tag.

Rory Parks contributed to this post.

George Pickens enjoyed a highly productive debut season with the Cowboys. He is on track for free agency at the moment, although the franchise tag looms as an option for Dallas to prevent a departure.

The alternative of a long-term contract remains one the team has shown interest in. As things currently stand, however, there is considerable progress still to be made on the negotiation front. Calvin Watkins of the Dallas Morning News confirms no contract talks have taken place yet with Pickens’ camp.

Acquired via trade from the Steelers last offseason, Pickens quickly made it clear he was comfortable playing out the 2025 season without an extension in hand. As Watkins notes, a second contract averaging at least $30MM annually was the target before the start of the campaign. Pickens certainly helped his earning potential by setting new career highs in several categories.

The former second-rounder finished eighth in the NFL in receptions (93), third in yards (1,429) and tied for fourth in touchdowns (nine). Pickens will thus have a very strong case for joining the $30MM-per-year club at the WR position. There are currently nine receiver contracts with an average annual value at or above that figure; Ja’Marr Chase‘s Bengals extension tops the market at $40.25MM per season. He and Justin Jefferson (Vikings) are the only two wideouts whose contracts contained more guarantees at signing than the Cowboys’ CeeDee Lamb commitment.

The investment made in Lamb (four years, $136MM) in the summer of 2024 obviously represents a challenge for the Cowboys as they plan out future spending on offense. Having Lamb and quarterback Dak Prescott on the books for years to come is something which must be weighed by Dallas. The team enjoyed a strong showing from running back Javonte Williams, and to little surprise a new Cowboys pact will be sought out in his case prior to free agency. Talks with Williams have taken place.

Pickens is represented by Athletes First, the agency led by David Mulugheta which also has Micah Parsons as a client. Direct negotiations between Parsons and Cowboys owner Jerry Jones did not yield the desired results last offseason, but Jones expects to speak directly with Pickens this spring. It will be interesting to see how that plays out once negotiations begin.

The franchise tag for receivers is projected to cost roughly $28.82MM next season. Teams have until March 3 to apply the tag. That comes just before the onset of free agency and the start of the new league year. Before that point, updates on the Pickens situation will be worth watching for closely.